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Returns to Education Revisited and Effects of Education on Household Welfare in Nigeria

  • Ogundari, Kolawole

Human capital development, especially higher educational attainment attaches high premium to human skills as an important factor of production. In view of this, the objective of the study is defined in two folds; first, to revisit returns to education in Nigeria and second, to investigate effects of education on the economic welfare of households in Nigeria. The study uses Double Hurdle (DH) model and Quantile Regression (QR), respectively for the objective one and two. Thus, our findings show that returns to schooling (i.e., labour market earnings) at primary, secondary and postgraduate levels are very low relative to schooling at the tertiary education in Nigeria. Also, we find the effects of primary, secondary and postgraduate education on household economic welfare to be substantially lower compared with that of tertiary education in the country. The implication of these findings is that investment up to completing tertiary education is vital for higher welfare through increasing labour market earnings among households in Nigeria.

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File URL: http://purl.umn.edu/136051
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Paper provided by New Zealand Agricultural and Resource Economics Society in its series 2012 Conference, August 31, 2012, Nelson, New Zealand with number 136051.

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Date of creation: Aug 2012
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Handle: RePEc:ags:nzar12:136051
Contact details of provider: Web page: http://www.nzares.org.nz/

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  1. George Psacharopoulos & Harry Anthony Patrinos, 2004. "Returns to investment in education: a further update," Education Economics, Taylor & Francis Journals, vol. 12(2), pages 111-134.
  2. Jacob A. Mincer, 1974. "Introduction to "Schooling, Experience, and Earnings"," NBER Chapters, in: Schooling, Experience, and Earnings, pages 1-4 National Bureau of Economic Research, Inc.
  3. Uwaifo Oyelere, Ruth, 2010. "Africa's education enigma? The Nigerian story," Journal of Development Economics, Elsevier, vol. 91(1), pages 128-139, January.
  4. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
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  8. Jacob A. Mincer, 1974. "Schooling, Experience, and Earnings," NBER Books, National Bureau of Economic Research, Inc, number minc74-1, August.
  9. Lacroix, G. & Frechette, P., 1992. "A Microeconomic Model of Female Labor Supply in the Presence of Unemployment and Underemployment," Papers 9210, Laval - Recherche en Politique Economique.
  10. Psacharopoulos, George, 1993. "Returns to investment in education : a global update," Policy Research Working Paper Series 1067, The World Bank.
  11. Glewwe, Paul, 1991. "Investigating the determinants of household welfare in Cote d'Ivoire," Journal of Development Economics, Elsevier, vol. 35(2), pages 307-337, April.
  12. T. Paul Schultz, 2004. "Evidence of Returns to Schooling in Africa from Household Surveys: Monitoring and Restructuring the Market for Education," Journal of African Economies, Centre for the Study of African Economies (CSAE), vol. 13(02), pages ii95-ii148, December.
  13. Matshe, Innocent & Young, Trevor, 2004. "Off-farm labour allocation decisions in small-scale rural households in Zimbabwe," Agricultural Economics, Blackwell, vol. 30(3), pages 175-186, May.
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  17. Cragg, John G, 1971. "Some Statistical Models for Limited Dependent Variables with Application to the Demand for Durable Goods," Econometrica, Econometric Society, vol. 39(5), pages 829-44, September.
  18. Ruth Uwaifo Oyelere, 2008. "Disparities in Labor Market Outcomes Across Geopolitical Regions in Nigeria. Fact or Fantasy?," Journal of African Development, African Finance and Economic Association, vol. 10(1), pages 11-31.
  19. Carlin, Paul S. & Flood, Lennart, 1997. "Do children affect the labor supply of Swedish men? Time diary vs. survey data," Labour Economics, Elsevier, vol. 4(2), pages 167-183, June.
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